Alpine Woods Capital Investors LLC decreased its position in OceanFirst Financial Corp. (NASDAQ:OCFC) by 40.6% during the 1st quarter, Holdings Channel reports. The firm owned 10,104 shares of the savings and loans company’s stock after selling 6,896 shares during the period. Alpine Woods Capital Investors LLC’s holdings in OceanFirst Financial were worth $270,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of OceanFirst Financial in the first quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of OceanFirst Financial by 109.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,018 shares of the savings and loans company’s stock worth $134,000 after purchasing an additional 2,626 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of OceanFirst Financial in the fourth quarter worth approximately $249,000. MetLife Investment Advisors LLC bought a new position in shares of OceanFirst Financial in the fourth quarter worth approximately $397,000. Finally, LPL Financial LLC grew its holdings in shares of OceanFirst Financial by 16.9% in the fourth quarter. LPL Financial LLC now owns 15,543 shares of the savings and loans company’s stock worth $408,000 after purchasing an additional 2,243 shares during the last quarter. Hedge funds and other institutional investors own 57.24% of the company’s stock.
NASDAQ:OCFC opened at $28.51 on Monday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.42 and a beta of 0.54. OceanFirst Financial Corp. has a twelve month low of $24.02 and a twelve month high of $29.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.
OceanFirst Financial (NASDAQ:OCFC) last released its quarterly earnings results on Thursday, April 26th. The savings and loans company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. The business had revenue of $64.62 million for the quarter, compared to analysts’ expectations of $58.24 million. OceanFirst Financial had a net margin of 15.23% and a return on equity of 9.04%. analysts predict that OceanFirst Financial Corp. will post 2.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Monday, May 7th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, May 4th. OceanFirst Financial’s dividend payout ratio (DPR) is currently 35.29%.
Several research analysts have recently issued reports on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $32.00 target price on shares of OceanFirst Financial in a report on Monday, February 12th. BidaskClub upgraded shares of OceanFirst Financial from a “sell” rating to a “hold” rating in a report on Monday, March 5th. Zacks Investment Research upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Thursday, February 1st. Finally, ValuEngine upgraded shares of OceanFirst Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.00.
In other news, Chairman Christopher Maher acquired 2,000 shares of the stock in a transaction on Tuesday, May 1st. The stock was acquired at an average price of $26.50 per share, with a total value of $53,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Devlin sold 1,453 shares of the firm’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $27.00, for a total value of $39,231.00. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
OceanFirst Financial Company Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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